Student Information System Market Worth $20.5 billion by 2027, Growing at a CAGR of 14.9% Report by MarketsandMarkets™

Chicago, Aug. 23, 2023 (GLOBE NEWSWIRE) -- The global Student Information System Market size is estimated to grow from USD 10.2 billion in 2022 to USD 20.5 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 14.9% during the forecast period, according to a new report by MarketsandMarkets™. The rising demand for tailored solutions and the growth in the access to higher education are expected to drive the market growth.

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282 - Tables
57 - Figures
254 - Pages

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Scope of the Report

The adoption of advanced technologies in the education sector in recent years is expected to bring great changes to the student information system market. Vendors are constantly trying to implement new technologies to improve their offerings. For instance, AI can be implemented to track and analyze student behavior which could help the faculty understand the student’s needs and weak points. This helps to analyze students’ thought processes and learning styles from their daily interactions, which helps to provide tailored courses to provide a personalized learning experience. The growing implementation of technologies such as AI, ML, data analytics, and IoT is expected to transform the education landscape.

By Solutions, the enrollment subsegment to hold the highest market share in 2022. Enrollment solutions helps institutions simplify and automate their admission and enrollment process-by-process and verify student entries, documents, images, certificates, and more, making the process efficient and effective. It helps educational campuses to streamline and manage all the tasks involved in student admission by enabling them to track the entire enrollment process in one system. 

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By Professional Services, the training & consulting subsegment to growth at the highest CAGR during the forecast period. Consulting services help educational institutes understand the competencies of different SIS solutions and the associated services provided by various vendors. Training services help to train the workforce for successful deployment of the solution. With rapid advancements in technologies, the demands for these services by end users have also increased.

By End User, the higher education segment is estimated to account for the higher market share. A higher education SIS stores and tracks all student data that faculty and staff need to manage their university campus operations. Many higher education student information systems have a portal for students to obtain vital information, specifically their own grades. The higher education software addresses the main functional areas of the school, including enrollments, student services, registrar’s office and business office, alumni relations, and development.

The Student Information System market has promising growth potential such as advancements in eLearning technologies and emerging potential markets in the education sector. Furthermore, the rising adoption of eLearning during to the pandemic is projected to have a favorable influence on the student information system market. Due to social distancing and school closures, online education has become an essential part of the education curriculum. This ongoing trend of online education and eLearning is expected to drive the student information system market even after the pandemic in the coming years.

Top Trends in Global Student Information System Market

The global Student Information System Market is growing rapidly, and there are a number of key trends that are driving this growth. Some of the top trends in the global Student Information System Market include:

• Solutions for SIS in the cloud: As cloud computing gained popularity, many educational institutions switched from on-premises systems to SIS in the cloud. Scalability, accessibility, and lower maintenance costs were all advantages of cloud-based SIS.
• Data Security and Privacy: These issues were of utmost importance due to the growing amount of sensitive student data being kept in SIS. To protect student information, SIS providers concentrated on putting in place strong security measures and adhering to laws like GDPR (General Data Protection Regulation).
• Integration with Learning Management Systems (LMS): Schools wanted their SIS and LMS systems to work together seamlessly. This integration made it simpler to share data, shortened processes, and improved both student and teacher user experiences.
• Accessibility on mobile devices: As demand for mobile-friendly SIS interfaces increased, so did the use of mobile devices. Using their smartphones and tablets, parents, teachers, and students wanted to get access to crucial information and complete chores.
• Advanced analytics and reporting capabilities were being incorporated into SIS systems. In order to improve educational outcomes, this enabled institutions to acquire insights from student data, track performance, and make data-driven decisions.
• Personalization and customization: Organisations sought SIS solutions that could be adjusted to meet their particular requirements. The system's adaptable dashboards, workflows, and features let schools customise it to meet their specific needs.
• Usability and user experience have grown to be important aspects of SIS adoption. Key selling features for SIS suppliers included user-friendly interfaces, straightforward navigation, and simplified processes.
• Artificial intelligence and machine learning: A few SIS providers have begun to investigate the combination of these two technologies. These tools may forecast student achievement, automate routine chores, and offer information that would help people make wiser choices.
• Open Standards and Interoperability: Educational institutions were seeking SIS solutions that complied with open standards and were simple to interface with other software platforms, including those for finance, human resources, and evaluation.
• Globalisation and Multilingual Support: SIS systems with multilingual support were becoming more important as education got increasingly international. SIS solutions that could accommodate many languages and cultures were required by institutions with diverse student populations.

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Key Industry Development in Student Information System Market

The Student Information System Market is constantly evolving, with new technologies and solutions emerging all the time. Here are some of the key industry developments that are shaping the market:

• Impact of COVID-19: The COVID-19 pandemic had a big impact on SIS and the educational technology industry. The need for SIS systems that allowed online learning, communication, and remote administrative chores expanded as educational institutions were forced to quickly adopt remote learning.
• SIS providers are putting more of an emphasis on offering personalised learning experiences. In order to do this, instructional content had to be customised based on data analytics used to understand each student's unique needs.
• AI and Predictive Analytics: There has been increased interest in integrating AI and predictive analytics with SIS. Institutions were able to forecast student performance, spot at-risk students, and take quick action to promote their achievement.
• Accessibility and Inclusivity: With features that catered to students with impairments, SIS systems were becoming more accessible and inclusive. The general movement to ensure that all pupils had equal access to education was in line with this trend.
• Blockchain in Education: To improve data security, authentication, and verification of educational records, certain SIS providers are looking into using blockchain technology.
• The development of open APIs (application programming interfaces) by SIS providers to enable smooth connection with other educational software has resulted in the creation of extensive ecosystems for institutions.
• Data Privacy and Compliance: As legislation like the GDPR came into effect, data privacy and compliance took on greater importance. In order to handle sensitive student data, SIS providers had to make sure that their systems adhered to certain requirements.
• Integration of Communication technologies: To enhance communication between students, parents, and teachers, SIS solutions began incorporating communication technologies. This integration made it simpler to communicate and share updates and announcements.
• Mobile-First Approach: SIS solutions were converting to a mobile-first strategy, allowing users to conduct tasks and access vital data on their mobile devices.
• User experience is emphasised: For SIS providers, user experience has become a critical differentiation. Systems that provided simple interfaces, streamlined processes, and effective navigation gained popularity.
• Integration of adaptive learning: SIS providers collaborated with adaptive learning systems to improve student engagement and customise learning opportunities based on preferences and individual progress.

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